Leaked Emails Unveil Snapchat's Secretive CEO

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Douglas MacMillan A batch of leaked emails involving a Snapchat board member show the startup's rapid rise to be the work of a secretive young entrepreneur with a distaste for Silicon Valley and its conventions. Evan Spiegel, Snapchat's 24-year-old ...

Swiss Central Bank Introduces Negative Interest Rates

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Neil MacLucas ZURICH--Switzerland's central bank said Thursday it will introduce negative interest rates, a move designed to curb demand for the Swiss franc. Beginning Jan. 22, 2015, the Swiss National Bank will charge banks 0.25% to deposit overnight funds ...

China November Home Prices Fall at Slower Pace -- Update

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Esther Fung The average price of new homes in 70 Chinese cities continued to fall in November, signaling a decline in home prices hasn't run its course. On a month-over-month basis, average home prices fell at a slower pace, ...

Fed's Yellen Heard Across Asia -- Barron's Asia

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Thomas Streater It was the word that echoed across Asia: patient. Twitchy Asian markets, which have braced for a much anticipated change in the Federal Reserve's language on the outlook for monetary policy, were relieved when the U.S. central ...

German Business More Bullish as Euro Weakens

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

German business confidence improved for the second consecutive month, a key indicator showed Thursday, as the eurozone's largest economy benefits from lower oil prices and a weaker euro. The Munich-based Ifo institute's lead indicator rose to 105.5 in December from ...

Ruble Weakens After Putin's Comments on Geopolitics

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

MOSCOW--The ruble weakened rapidly on Thursday after President Vladimir Putin used defiant language in talking about geopolitical issues. The ruble hit 63.86 against the dollar at 0947 GMT, weakening from around 60.8 at 0933 GMT before Mr. Putin blamed the ...

U.K. Car Production Slips in November

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

LONDON--U.K. car manufacturing fell 0.2% in November, although the year-to-date total remains stable at 1.42 million units, an industry body said Thursday, leading it to expect full-year production to match last year's level of 1.5 million units, and growth to ...

European Stocks Rally, Swiss Franc Falls

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

Stocks in Europe rallied Thursday, following U.S. markets higher, as investors welcomed the message from the Federal Reserve that it will be patient in deciding when next to raise interest rates. The Stoxx Europe 600 index was 1.3% higher in ...

France's Borrowing Needs to Rise in 2015

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

PARIS--France's borrowing requirements will rise to a record high next year as the budget deficit narrows only slightly and the state pays back a spike in debt it contracted during the global economic slump in 2009, the French Treasury Agency ...

U.K. Car Production Slips in Nov; Full Year Expected to Match 2013 - SMMT

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

(This article was originally published at 0001 GMT Thursday.) By Ian Walker LONDON--U.K. car manufacturing fell 0.2% in November, although the year-to-date total remains stable at 1.42 million units, an industry body said Thursday, leading it to expect full-year production ...

Asian Shares Rise as Fed Shows Patience

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Chao Deng Stocks in Japan and Australia jumped early Thursday on signals from the U.S. Federal Reserve that it is not in a hurry to raise interest rates, encouraging investor risk appetite. The Nikkei Stock Average surged 2.3% while ...

Switzerland Lowers 2015 Growth Forecast

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Neil MacLucas ZURICH--The Swiss government on Thursday lowered its forecast for gross domestic product growth next year due to the sluggish performance of economies in the eurozone, the Alpine country's key export market. The government said, however, that while ...

Swiss Central Bank Introduces Negative Interest Rates -- Update

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Neil MacLucas ZURICH--Switzerland's central bank said on Thursday it would introduce negative interest rates next year, a measure designed to cool the strength of the Swiss franc and ward off deflation. Beginning Jan. 22, 2015, the Swiss National Bank ...

No Sign Yet of Labor Cost Inflation in U.S. or U.K.

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Paul Hannon Despite falling unemployment rates, there are few signs that rising wages will soon start to push inflation higher in either the U.S. or the U.K., where central banks are expected to raise their benchmark rates next year ...

Putin's Year of Defiance and Miscalculation -2-

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

Warning that defying "the laws of economic development" would bring Russia to collapse as it did the Soviet Union, Mr. Gref ridiculed government policies for replacing sanctioned products with domestic ones. "You cannot motivate people through the Gulag, like in ...

Japan Firms' Cash Holdings Hit Record High

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

TOKYO--Japanese companies added to their mountains of stashed cash in the third quarter, pushing up their combined savings to a new record equivalent to almost half the nation's gross domestic product despite repeated calls by Prime Minister Shinzo Abe to ...

IHH Healthcare Plans Expansion Across Asia Pacific

TODAY: Dec. 18, 2014 PUB DATE: Dec. 18, 2014

By Jason Ng KUALA LUMPUR, Malaysia--IHH Healthcare Bhd. (5225.KU), Asia's largest listed healthcare operator by market value, plans to spend 3.3 billion ringgit ($940 million) over the next two years as part of its ambitious expansion in the region. We're ...